Dear Fellow Stockholder:
As we all continue to experience the disruptions from the COVID-19 pandemic and the resulting temporary closures of non-essential businesses, we wanted to provide an update on InPoint Commercial Real Estate Income, Inc.‘s (“InPoint” or the “Company”) current portfolio position and actions we have taken since the pandemic’s onset.
As a reminder, on March 27, 2020, InPoint communicated that, as a result of the severe economic consequences of COVID-19 and the local, state, and federal government responses to the crisis, it was not feasible to accurately calculate an updated estimated net asset value (“NAV”) per share of its common stock. Since that time, despite the many government programs put in place to stem economic fallout, market conditions in the U.S. remain difficult with rapidly increasing unemployment and deteriorating economic activity. Thus, we maintain our position that it is not currently possible to accurately calculate an NAV for the InPoint share classes due to this continued uncertainty surrounding the commercial real estate market. It is our goal to calculate an update NAV, and ultimately reinstate sales of shares of the Company’s common stock, the share repurchase plan, and the distribution reinvestment plan once we can accurately assess the post-crisis commercial real estate market conditions.
